Fintech startup CashFlo raises $8.7 M from General Catalyst, Elevation

Mumbai-based fintech startup CashFlo has raised USD 8.7 Mn (INR 70 Cr) from General Catalyst and Elevation Capital. Angels investors including Jitendra Gupta from Jupiter, Amrish Rau from Pine Labs, Nitin Gupta from Uni, Rangarajan K from Five Star, Gokul Rajaram, Whiteboard Capital, Atrium Angels and Saikiran Krishnamurthy also participated in the funding round. The funds will be used to expand in India's enterprise segment and invest in core products and technology Founded in 2018 by Ankur Bhageria and Dushyant Agarwal, CashFlo helps vendors to access affordable short-term capital and enables corporates to optimize working capital flow and increase topline by managing their supply chain's finances efficiently. It works with corporates like Tata Group, Haldia Petrochemicals, Aditya Birla Group, Vedanta, Arvind Limited among others. From the Venture Intelligence PE-VC Deal Database: In Sep 2019, CashFlo had raised USD 3.1 M from Elevation Capita. l(Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)